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RBC drops home mortgage rate
* F) z; H5 z5 b* u& \# iSep. 5, 2006. 12:45 PM8 d6 o, A! Z& o% [
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Royal Bank of Canada (TSX: RY) has cut long-term mortgage rates by up to a tenth of a point.# \4 n k! D7 P+ \% y1 q
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Canada's biggest bank announced Tuesday it is reducing the posted rate on three-year to 10-year loans by a tenth of a point. The reductions are effective Wednesday.' J; B/ b! w' C. B2 Z' C8 W* ^
+ L5 Z1 M9 S+ H" \At the Royal, a three-year closed term falls to 6.5 per cent, while a five-year loan drops to 6.75 per cent and a seven year loan to 7.25 per cent./ M# c' y) H' D
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The cuts reflect the lower cost of borrowing in the bond market, where banks finance their mortgage loans. |
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发表于 2006-9-5 20:18
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